Property of the Month: 70 Washington Street, DUMBO, Brooklyn, NY
From “Gairville” to modern-day DUMBO
Long before DUMBO became known for its waterfront parks, its galleries and restaurants, and its coveted loft residences, it was one of New York’s most important manufacturing districts.
The neighborhood is close to the East River, Manhattan, the Brooklyn Bridge, and to an extensive network of rail lines, making it an ideal location for industry. Here, many goods were produced, like coffee, soap, paint, packaging, and countless more and stored inside the monumental factories and warehouses that still define its streets today.
One of the most influential figures in this period was Scottish-born entrepreneur Robert Gair. He developed machinery for manufacturing, and his innovations transformed the market, becoming part of everyday American life. As his business expanded, Gair moved production from Manhattan to Brooklyn in 1888. His company eventually occupied such a large collection of buildings in DUMBO that the area became informally known as “Gairville”.
70 Washington Street was constructed in 1911 as part of this industrial complex and expanded in 1916. Designed by William Higginson and built by the Turner Construction Company, it is a notable example of Industrial Neo-Classical architecture and early reinforced-concrete construction.
Its generous ceiling heights, wide structural bays, and oversized windows were originally created to provide factory workers with open space and natural light. More than a century later, those same elements have become some of the building’s most desirable residential features.
The evolution of a neighborhood
As manufacturing gradually left the Brooklyn waterfront, DUMBO entered a new chapter.
Beginning in the 1970s, artists were drawn to the neighborhood’s adaptable spaces and relative isolation, and here they began turning former industrial floors into studios and live-work lofts, helping establish the creative identity that still remains part of DUMBO’s character.
The name DUMBO, that stands for “Down Under the Manhattan Bridge Overpass” also emerged during this period.
Over time, the neighborhood evolved again: historic warehouses were restored, Brooklyn Bridge Park transformed the waterfront, and former factories found new lives, changing into something else.
In 2005, 70 Washington Street was converted into a full-service condominium. The transformation introduced modern residences and amenities while preserving the scale and industrial character that make the building so difficult to replicate.
What living here feels like
The building’s industrial past is still very much part of the experience. High ceilings give the residences an open, airy feel, while oversized windows fill the interiors with natural light and frame some of DUMBO’s most characteristic views.
Open kitchens flow naturally into the living areas and together with contemporary finishes and bamboo flooring, they bring warmth and comfort to the building’s original industrial character.
Beyond the residences themselves, 70 Washington Street offers the kind of lifestyle that makes DUMBO so special. Brooklyn Bridge Park is only a few minutes away, and the neighborhood’s cobblestone streets are lined with cafés, restaurants, galleries, and independent shops. At the end of the day, residents return to a home that feels connected to both Brooklyn’s history and the energy of the city today.
The building also offers a full-time doorman and concierge, a package room, fitness center, and landscaped roof deck with expansive city views.
Getting around is equally convenient. The F train at York Street, the A and C trains at High Street, and the NYC Ferry provide easy connections to Manhattan and the rest of Brooklyn.
Worth Watching — Here's Why
From an investment perspective, 70 Washington Street brings together several fundamentals that are difficult to reproduce:
A globally recognizable neighborhood
Authentic loft architecture
Convenient access to Manhattan
Consistent appeal among both local and international renters
Carrying costs that have historically compared favorably with those of many newer luxury developments
Properties with a strong identity can appeal to tenants who are looking for more. They are not simply choosing a neighborhood: they are choosing an experience and a lifestyle. This can help historically distinctive buildings remain relevant even as buyer and renter preferences evolve.
70 Washington Street brings together the qualities that support lasting appeal: distinctive architecture, the flexibility of condominium ownership, excellent transportation options, and a prime DUMBO location that remains highly desirable to both residents and investors.
Sources:
https://s-media.nyc.gov/agencies/lpc/lp/2279.pdf
https://dumbo.nyc/historictimeline/
https://dumbo.nyc/buildings/
https://streeteasy.com/building/70-washington-street-brooklyn
https://70washingtonnyc.com/